Market Comment – February 2020

As I write this, I reflect on 2 dates. Firstly, our progress and results in February which I am quietly excited by, as prospective sales applicants are up a whopping 16% on the same month in 2019 and residential lettings applicants are up by 12% on the same month in 2019. The activity that we experienced in January has carried all through February across all sectors of our operation, including sales, lettings, new homes and land.

I was delighted to attend the launch of 9 luxury apartments in Monahan Avenue, Purley and with the weather on our side and a lot of hard work behind my team, we secured a number of sales and saw a steady flow of over 45 prospective purchasers throughout the day and this was reminiscent of the more heady days in the past. We are yet to launch another development of 6 luxury apartments in Coulsdon and pre-launch, we have already taken a reservation for one and are looking to take a further reservation in the next 24 hours. Activity across the group in new homes has been nothing short of phenomenal after launching and securing every property in Pearl Close.

The 1st March was also a milestone day as Streets Ahead opened for business on 1st March 1990, so a real milestone for the team. Both myself, Bob Hay and Marina Steel who opened the doors in 1990 are still working full time, really enjoying every aspect of estate agency. With no plans to retire, we look forward to many more years and it is an enormous pleasure to be dealing with so many repeat customers from Crystal Palace to Croydon, to Coulsdon.

I have every reason to believe that the confidence shown in the first 2 months of 2020 will extend into the first quarter and I look forward to reporting to you in 4 weeks.